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Nov 20, 2012
11/12
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and barack obamas looks set to flag the south china sea issue. and ban ki-moon has called for an immediate cease fire in gaza. and a lot of noise, not a lot of effect. an analyst's words on credit suisse's plans to consolidate. that sent the shares to the bottom of the smi. pretty solid gains for global equities. today a cautious start indicated for u.s. markets. s&p 500 at the moment just less than two points below fair value. right now the nasdaq is some six points below fair value. and the dow currently some 28 points below fair value. the global 300 looks like this. pretty flat really. just down a point or so. and european stocks have been fairly flat. no big moves. you can see the ftse right now down 0.2%. we were up over 2% yesterday. xetra dax up 0.2. not big reaction to the fact that moody'ss as followed s&p by cutting aaa rating. and ibex down about a third. spain raising a little bit of have a money. they started funding for 2013 ahead of 12 and 18 month t-bill auction today. 12 month yields a little bit lower. 18 month demand not as mu
and barack obamas looks set to flag the south china sea issue. and ban ki-moon has called for an immediate cease fire in gaza. and a lot of noise, not a lot of effect. an analyst's words on credit suisse's plans to consolidate. that sent the shares to the bottom of the smi. pretty solid gains for global equities. today a cautious start indicated for u.s. markets. s&p 500 at the moment just less than two points below fair value. right now the nasdaq is some six points below fair value. and...
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Nov 7, 2012
11/12
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and the obama camp spent slightly more than romney's. but can enjoy the spoils of victory, at least for tonight. romney and obama campaigns burnt through a combined total of $30 a second. $2.6 million a day. and $79 million a month during this election cycle. and a lot of that money would have flowed from wall street, but on election day, that particular district of lower manhattan is actually less important than ever. that's john carney's take. if you want to respond to that or anything else you've heard on the program, you know how. e-mail us, you can also tweet that guy. >> $79 million a month. i'm guessing that's over a two-year period? >> i guess it also works out to $400 per voter, if you assume that everyone were to turn out. so for the turnout itself, that would be an even higher tally. >> and we ended up with the status quo for all that money spent. i suppose that's one way of looking at it. >>> we just showed this. european stocks have a mild risk-on view today. there's a view now. of course, the fed won't be changing its polic
and the obama camp spent slightly more than romney's. but can enjoy the spoils of victory, at least for tonight. romney and obama campaigns burnt through a combined total of $30 a second. $2.6 million a day. and $79 million a month during this election cycle. and a lot of that money would have flowed from wall street, but on election day, that particular district of lower manhattan is actually less important than ever. that's john carney's take. if you want to respond to that or anything else...
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Nov 9, 2012
11/12
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. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumption side actually look pretty good. numbers came in at 14.5% growth and that beat expectations. a lot of that was because people are buying more food as well as automobiles. n
. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient....
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Nov 15, 2012
11/12
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the report comes after president obama challenged congress. in his first press conference since the election, he says he's willing to compromise with republicans over how to raise new revenues to cut the definite set. he said much of the threat from the fiscal cliff would be removed if they would pass a bill to pass a tax break for americans with less than $250,000 a year. >> i believe this is solvable. i think that fair minded people can come to an agreement that does not call the economy to go back into recession, that protects middle class families, that focuses on jobs and growth and reduces our deficit. >> more from austan goolsbee on that in just a bit. egypt's foreign minister is calling on the united states to, quote, immediately speak screen to end israeli aggression on gaza. after the break, we'll hear from the middle east where israel launched a new offensive after rocket attacks killed israeli civilians. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift?
the report comes after president obama challenged congress. in his first press conference since the election, he says he's willing to compromise with republicans over how to raise new revenues to cut the definite set. he said much of the threat from the fiscal cliff would be removed if they would pass a bill to pass a tax break for americans with less than $250,000 a year. >> i believe this is solvable. i think that fair minded people can come to an agreement that does not call the...
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Nov 6, 2012
11/12
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are markets right to believe an obama win? >> there are several factors obviously the past week with hurricane sandy has galvanized several voters in the way the president handled the crisis. it's really motivated many democrats and independents to really come out and rejuvenate sort of the vote. and i think -- i don't know if i'd put it as high as nate silver, but do i think that it bodes well for the president today. >> how important is the turnout, how much do you think the weather has had on hurricane sandy? >> turnout is always key. we can project -- we have been projecting these things and debating them for the past few months, but it all boys down to today. and i think that the situations of the united states especially in the northeast corridor are definitely voted to do so. granted there will be some individuals who just won't be able to because they aren't in their district, they no longer have homes and they're dealing with much larger issues. but i think those that are able to vote will definitely come out and vote
are markets right to believe an obama win? >> there are several factors obviously the past week with hurricane sandy has galvanized several voters in the way the president handled the crisis. it's really motivated many democrats and independents to really come out and rejuvenate sort of the vote. and i think -- i don't know if i'd put it as high as nate silver, but do i think that it bodes well for the president today. >> how important is the turnout, how much do you think the...
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Nov 19, 2012
11/12
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barack obama praises myanmar's trip to democracy. and oil futures hit a two week high as international pressure mounts for a cease-fire in gaza. welcome back. just to keep you abreast with what's taking place at the moment in the uk, you have the uk prime minister david cameron speaking live at cbe conference. confederation of british industry. so he was just talking about how the government needs to be tough, radical and fast and he's continuing to lay out his thoughts there at this conference. we'll keep you up-to-date. tomorrow's euro group meeting is likely to be a tense affair. the imf looks to stick to its guns. christine lagarde told reuters that any financing program needs to be rooted in reality and not in wishful thinking. julia chatter sly is in athens. the chances of officials not green lighting further aid to greece, is it fair to say at the this stage that's very small? >> i think at the moment we have a situation where you have the imf really pushing for debt write down and on the other people wanting an enter rum solu
barack obama praises myanmar's trip to democracy. and oil futures hit a two week high as international pressure mounts for a cease-fire in gaza. welcome back. just to keep you abreast with what's taking place at the moment in the uk, you have the uk prime minister david cameron speaking live at cbe conference. confederation of british industry. so he was just talking about how the government needs to be tough, radical and fast and he's continuing to lay out his thoughts there at this...
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Nov 5, 2012
11/12
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president obama signed that into law. and that's an example where you have trade becoming an engine for growth in the u.s. and not being a democratic or republican. so what we're really trying to do is make the case in economic terms and not in political terms. we've had some success, but as you see with all the rhetoric in this campaign especially when it comes to china, we've got a lot of work to do. >> romney's comments about china being a currency manipulatomani did it promote concern? >> if you look back at every presidential campaign and look at what president clinton said in his campaign in '92 and it was president clinton who had the wto extension agreement reached with china. so we really don't focus what's said in the silly season of politics and campaigns, but we really want to get to what message we want to deliver to the incoming administration, be it a new obama administration because you'll have a lot of new trade people coming in respect possibly new cabinet secretaries, or a whole slew of new officials co
president obama signed that into law. and that's an example where you have trade becoming an engine for growth in the u.s. and not being a democratic or republican. so what we're really trying to do is make the case in economic terms and not in political terms. we've had some success, but as you see with all the rhetoric in this campaign especially when it comes to china, we've got a lot of work to do. >> romney's comments about china being a currency manipulatomani did it promote...
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Nov 26, 2012
11/12
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. >>> president obama even got in on the holiday shopping action. he visited an independent bookstore in virginia on small business saturday after resulting his list on his blackberry you can the president bought 15 children's books as gifts. >>> policy meeting gave markets more reason to expect monetary easing from the central bank. two of the newcomers said the boj should reinforce its commitment to policy easing by saying it will continue an ultra easy policy. he also said inflation has the potential to k3 seed 1% if tokyo and private sector efforts bear fruit. we've seen euro-yen near 7 1/2 month highs. same for dollar-yen, as well. what are the prospects for the yen to weaken further bearing in mind there must be a lot in the price. p. >> i do think we've seen a lot priced into the dollar-yen at the moment. it's really been on the rhetoric that's coming into the laekelec. this week he said, we saw some backtracking in the main and opposition party and weren't so aggressive when it came to easing. they said they let the central bank set their ow
. >>> president obama even got in on the holiday shopping action. he visited an independent bookstore in virginia on small business saturday after resulting his list on his blackberry you can the president bought 15 children's books as gifts. >>> policy meeting gave markets more reason to expect monetary easing from the central bank. two of the newcomers said the boj should reinforce its commitment to policy easing by saying it will continue an ultra easy policy. he also said...
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Nov 28, 2012
11/12
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it comes as president obama will continue to push. eamonn has more on the fight from capitol hill. >> if there was any question that the market is hanging on every word of this fiscal cliff debate here in washington, it was answered yesterday when senator harry reid came out before cameras and said that he was upset that there had been "little progress in the negotiations on the fiscal cliff." the indexes really took a dive. let me play you a bit of what harry reid had to say. >> there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. so we have to get away from the happy talk and start talking about specific things. >> so the important thing there is what harry reid actually said, which is he said that he doesn't think there's been enough progress from republicans. what he's meaning when he says that is that he doesn't think that they've conceded enough. so what the market took yesterday is a symbol
it comes as president obama will continue to push. eamonn has more on the fight from capitol hill. >> if there was any question that the market is hanging on every word of this fiscal cliff debate here in washington, it was answered yesterday when senator harry reid came out before cameras and said that he was upset that there had been "little progress in the negotiations on the fiscal cliff." the indexes really took a dive. let me play you a bit of what harry reid had to say....
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Nov 16, 2012
11/12
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. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe because after a couple of uglier days in the market, we're seeing something of a comeback now led by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is down. ftse 100 sam thing, so we'll keep an eye on all these levels as the show progresses this morning. the bond space is where we've been focusing our attention with spain and greece on. spain today seeing prices rise, yields coming down to 5.78%. italy seeing a bit of a rally, too. sello
. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe...
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Nov 30, 2012
11/12
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i think obama will be speaking at some point today. and so that's definitely what traders have been focused on. but still while we are holding these bid levels, really kind of chop type trade and not a lot of energy, not a lot of yiks for the most part. >> what about the slew of special difference sends we've be dividends we've been seeing? >> i think that's been encouraging for the most part. but one thing i just heard about the dividends from microsoft and oracle, but i heard pc sales for microsoft were off like 20 some% year to year. so while they came out with the windows 8 launch into the holidays, really it's kind of backfired for the most part and there hasn't been a lot of major response to that relative to some of the other apple type releases that we've seen. and again it's just faltering if you will. but i think the positive energy if you will certainly contributed as well as the economic data this terms of contributing to the up side activity. but it's a bit of a grind to the up side. again, not these -- other than wednesda
i think obama will be speaking at some point today. and so that's definitely what traders have been focused on. but still while we are holding these bid levels, really kind of chop type trade and not a lot of energy, not a lot of yiks for the most part. >> what about the slew of special difference sends we've be dividends we've been seeing? >> i think that's been encouraging for the most part. but one thing i just heard about the dividends from microsoft and oracle, but i heard pc...
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Nov 13, 2012
11/12
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so in that sense, i think obama has an advantage. on the other hand republicans do have a good case to make when it comes to taxes because something that's not often discussed is that the costs of obama care will start to kick in in 2013. one example, businesses which hire 50th notice ewill face a fine of $40,000 if they don't take on government approved health care insurance. so republicans can argue that when we approach this fiscal cliff, we have to keep costs and regulations as light as possible and any tax increase could be harmful. so there is some argument on this. >> is it telling us that glenn hubbard is basically saying, yes, we need to close he loopholes and cap deductions, but also we're willing to give when it comes to higher taxes on the wealthy? it seem like it's becoming the end game. >> equally significant to grefer norquist one of the big anti-tax champions said we have to look again at a carbon tax idea. which the congress ional budget said. i like the cliff you played of senator bob corker very significant saying
so in that sense, i think obama has an advantage. on the other hand republicans do have a good case to make when it comes to taxes because something that's not often discussed is that the costs of obama care will start to kick in in 2013. one example, businesses which hire 50th notice ewill face a fine of $40,000 if they don't take on government approved health care insurance. so republicans can argue that when we approach this fiscal cliff, we have to keep costs and regulations as light as...
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Nov 8, 2012
11/12
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some cited president obama's win here as a key reason for that. apple also one of the names in focus. it breached correction territory down 20% from its peak this year. it shed more than 4% as you can see yesterday and that's certainly given apple's size, importance and holdings spooked the market. one point of solace is that the vix did not leap yesterday even though markets were selling off. it moved higher. it did add about 8%, but at 19, still below sort of the 20 or certainly high 20 levels that would perhaps have signaled more trouble ahead. so we'll see if that means anything for the market today. of course we have seen european markets turn weaker in just the last couple minutes. now, u.s. political leaders are promise to go avoid the ever looming fiscal cliff. john boehner said he'd pursue a deal with president obama that would include higher taxes under quote/unquote the right conditions to help. our next guest says obama's victory will lead to a risk on phase in markets especially when it comes to the u.s. dollar. joining us is dara mah
some cited president obama's win here as a key reason for that. apple also one of the names in focus. it breached correction territory down 20% from its peak this year. it shed more than 4% as you can see yesterday and that's certainly given apple's size, importance and holdings spooked the market. one point of solace is that the vix did not leap yesterday even though markets were selling off. it moved higher. it did add about 8%, but at 19, still below sort of the 20 or certainly high 20...
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Nov 12, 2012
11/12
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president obama meets with u.s. business labor and civic leaders this week to tackle the looming fiscal cliff before he sits down with that house and senate leaders on friday. and lorenzo smaghi says greece needs more time. and japanese gdp shrinks for the first time since last year, the economics minister warning the country may already be in recession. still to come, best buy fires the latest shot in the global tablet wars. can the struggling chain flex its muscle against the dominant players apple, samsung and amazon. we put the retailer's devices to the test. >>> bond markets are closed state side. stocks are trading. slightly up start. the s&p and nasdaq down nearly 2.5% each. as far as european stocks ahead of the u.s. open, fairly mixed at the moment. cac 40 down 0.2%. bond yields lower in germany and the uk. slightly higher in spain and italy. spanish yelleds just under 5.9%. now, apple and htc have buried the hatchet, settled their outstanding patent litigation. the companies have signed a broad ten year li
president obama meets with u.s. business labor and civic leaders this week to tackle the looming fiscal cliff before he sits down with that house and senate leaders on friday. and lorenzo smaghi says greece needs more time. and japanese gdp shrinks for the first time since last year, the economics minister warning the country may already be in recession. still to come, best buy fires the latest shot in the global tablet wars. can the struggling chain flex its muscle against the dominant players...
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Nov 29, 2012
11/12
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geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos wednesday. they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal would be in reach. >> interesting. bill ford jr. agrees with blankfei
geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos...
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Nov 27, 2012
11/12
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meanwhile the white house says president obama called house speaker john boehner and harry reid this weekend for avoid efforts on fiscal cliff. on wednesday president obama will seek more input from top ceos, including gold man's lloyd blankfein and caterpillar's doug owner hill man. a number will travel to washington to try to reach a deficit cutting deal as part of the fix the debt campaign. so all things fiscal cliff still pre-dominate. we have a time clock that's quickly running out. how important is it that we get an agreement before the end of the year? >> this is like the debt ceiling argument. people got into a panic. that's something we even imposed on ourselves to decide that the debt shouldn't go too high. so it's not a bad thing. same with the fiscal cliff. what are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we'r
meanwhile the white house says president obama called house speaker john boehner and harry reid this weekend for avoid efforts on fiscal cliff. on wednesday president obama will seek more input from top ceos, including gold man's lloyd blankfein and caterpillar's doug owner hill man. a number will travel to washington to try to reach a deficit cutting deal as part of the fix the debt campaign. so all things fiscal cliff still pre-dominate. we have a time clock that's quickly running out. how...
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Nov 14, 2012
11/12
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. >>> president obama gets more input today on how to tackle the fiscal cliff. he'll meet with several ceos this afternoon with a press conference at 1:30 p.m. eastern. the group includes the heads of american express, xerox, ge, and honeywell. the white house says he'll call for $1.6 trillion in tax hikes on businesses and wealthy americans, more than republicans are likely to accept. speaking at a "wall street journal" event tuesday, tim geithner warned congress against delaying a solution to the fiscal crisis. >> if you say again, as we've had to do before, because there was no alternative, we're going to extend and delay, what gives people confidence that people have to negotiate this will come to the table and negotiate? they always believe they can just extend again. i know the cliff is unattractive. it would cause a lot of damage to the american economy. that damage is imminently avoidable. not that complicated to solve. >> hmm, not that complicated. not so sure. just as one leadership transition is behind us -- oh, i should mention before we move on to t
. >>> president obama gets more input today on how to tackle the fiscal cliff. he'll meet with several ceos this afternoon with a press conference at 1:30 p.m. eastern. the group includes the heads of american express, xerox, ge, and honeywell. the white house says he'll call for $1.6 trillion in tax hikes on businesses and wealthy americans, more than republicans are likely to accept. speaking at a "wall street journal" event tuesday, tim geithner warned congress against...
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Nov 22, 2012
11/12
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and obama saves cobbler, but many of his turkey friends will end up on the table today. we evaluate the cost of a thanksgiving dinner with a soft commodities expert. all of that and lent more coming up over the course of the next three hours. it's not just eurozone pmis. china's manufacturing activity expanded for the first time in more than a year this month. >> upbeat data today. according to the flash pmi, the country's manufacturing sector expanded in november coming in at 50.4. and that eat first time it went above the boom or bust level of 50 in 13 months. almost all the sub indices showed improvement. the output sub index also hit a 13 month high at 51.3. and the latest reading follows a series of data showing stronger exports and improved industrial activity which some say are clear signals rebound is picking up steam. and a turning point for the country and that china may see a v shaped recovery with things improving from here on. we'll have more clues to see if that's true when the final reading and official data are received next weekend. but for now the marke
and obama saves cobbler, but many of his turkey friends will end up on the table today. we evaluate the cost of a thanksgiving dinner with a soft commodities expert. all of that and lent more coming up over the course of the next three hours. it's not just eurozone pmis. china's manufacturing activity expanded for the first time in more than a year this month. >> upbeat data today. according to the flash pmi, the country's manufacturing sector expanded in november coming in at 50.4. and...